How to create a great legacy: Putting it all together I N PART TWO OF OUR three-part series “How to BY DOUG BONDERUD
Create a Great Legacy,” in Issue 14 of In Your Corner, we discussed finding a fair value for your business before you move on and avoiding common pitfalls in your succession planning. That brings us to part three: Helping your legacy thrive. At this point, you’ve sold the business, identified your successor and, hopefully, avoided any serious family drama. Now you’re looking forward to a well- deserved rest, with a legacy that provides for you and your children, while leaving an indelible and positive mark on the business you built. But how do you get from point A to point B? How do you ensure your legacy doesn’t just start strong, but has enough staying
power to survive and thrive over time? It all starts with great help. Selling your business is just the start When it comes to selling your business, it’s worth having help. The process of determining business value, finding a buyer (or naming a successor) and closing the deal often comes with massive
How do you ensure your legacy doesn’t just start strong, but has enough staying power to survive and thrive over time?
stress. Some owners report panic attacks during the process, while others find it hard to slow down their frenetic pace even after the business is sold. Just as it did when you were building your business, having the right team on your side can make the process easier. Consider the case of a business owner choosing to exit and sell the company to an investment
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IN YOUR CORNER ISSUE 15 | 2023
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